Sovereign s Capital Management LLC Buys Shares of 5,296 ResMed Inc. (NYSE:RMD)

Sovereign s Capital Management LLC bought a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,296 shares of the medical equipment provider's stock, valued at approximately $1,211,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WBI Investments LLC grew its holdings in ResMed by 160.7% during the 4th quarter. WBI Investments LLC now owns 15,612 shares of the medical equipment provider's stock valued at $3,570,000 after buying an additional 9,624 shares in the last quarter. Triglav Skladi D.O.O. purchased a new stake in ResMed during the 4th quarter valued at approximately $1,692,000. Tidal Investments LLC grew its holdings in ResMed by 5.8% during the 4th quarter. Tidal Investments LLC now owns 111,069 shares of the medical equipment provider's stock valued at $25,400,000 after buying an additional 6,131 shares in the last quarter. True Wealth Design LLC grew its holdings in ResMed by 121.7% during the 4th quarter. True Wealth Design LLC now owns 255 shares of the medical equipment provider's stock valued at $58,000 after buying an additional 140 shares in the last quarter. Finally, State of Wyoming purchased a new stake in ResMed during the 4th quarter valued at approximately $123,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on RMD. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, January 31st. Wall Street Zen raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Mizuho set a $265.00 target price on shares of ResMed in a report on Wednesday, April 16th. UBS Group cut their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $258.83.

ResMed Trading Down 0.1%

RMD traded down $0.29 during trading on Thursday, reaching $245.49. The company had a trading volume of 644,419 shares, compared to its average volume of 1,023,472. The stock has a market cap of $36.00 billion, a P/E ratio of 28.98, a PEG ratio of 1.53 and a beta of 0.78. The business has a 50 day simple moving average of $227.00 and a 200-day simple moving average of $234.34. ResMed Inc. has a 52 week low of $179.42 and a 52 week high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $2.13 earnings per share. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed's dividend payout ratio (DPR) is 23.79%.

Insider Transactions at ResMed

In other news, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the sale, the director now directly owns 5,806 shares in the company, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at approximately $104,394,182.40. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,949 shares of company stock worth $11,822,260. 0.71% of the stock is currently owned by insiders.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.